CSCO34 trade ideas
CSCO Way Over-extendedBear Case:
*Bearish RSI Divergence
*Broken Wedge up
*Tech/QQQ showing major exhaustion
*ER
Bull Case:
*Tech still holding
*China
*ER
***Too Many bearish warnings on the technical side. Holding JUNE 21 PUTs with min target at 50$... Let's talk about it***
Cisco Systems (CSCO) Sell $56.33 > $48.63 (Profit:Risk = 4.48:1)NASDAQ:CSCO
Cisco Systems, Inc.
Information:
We go up the channel for too long.
Now there will be a breakdown and a reversal of share price.
About stop loss:
Stop loss is placed just above the weekly candle in case of a false touch.
Weekly chart:
Daily Chart:
H4 Chart:
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Sell = $56.33
Take Profit = $48.63
Stop Loss = $58.05
------
Profit:Risk = 4.48 : 1
Profit:Risk = +13.67% : -3.05%
CSCO: Sort opportunityAn intraday high potential, Back Tested Sort Analysis.
We ll try to enter into the correction of the uptrend movement.
DETAILS ON THE CHART
NOTE: Entry range area above the entry point, is calculated upon 80% of the recorded pullback back tested past performances
DISCLAIMER: This is a technical analysis study, not an advice or recommendation to invest money on.
Stochastics are overboughtUnless they kill earnings, too much is already baked in making it riskier to buy now. Wait for a pullback.
CISCOCisco is still very hot, 4th of april it will go ex dividend. I'm still holding options till the 18th of april. This rally could go as far as 60,15 where it faces another quantum price resistance. I'll patiently wait and hold for now. Next week if a buying opportunity forms I'll buy more options with a longer expiry.
S&P 500 also is at the edge of a trading range, I'm waiting from the sidelines to see what will happen. I'am bullish on the index also, refer to previous posts for resistance levels. I think it could retest 2912 levels soon.
Potential reversal/ sell-off coming in a couple of weeksI assume three wave correction is close to its completion on a senior t.f.
Will not be surprised if price will drop dramatically to in a move, equivalent to the first leg down, visible on the chart to the left hand
